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Following the sale of its Camberwell property in December 2023, the Real Estate Institute of Victoria’s (REIV) search for a new headquarters has come to an end.
The new property is located in Abbotsford, at 617 Victoria Street, roughly 3 kilometres from the CBD, just 200 metres from Victoria Gardens Shopping Centre and steps away from the Yarra River.
Describing it as a “new and exciting chapter” for the organisation, REIV president Jacob Caine commented that the move closer to the city centre would benefit the organisation, its staff and members.
REIV interim CEO Megan Mander agreed, noting that being centrally located would enable the organisation to more easily welcome visitors.
“Being located close to the CBD is important for the REIV, as it allows members from all parts of the state to access our headquarters with greater ease,” Mander said.
The multilevel office space also boasts 52 carparks and ample space to hold educational events and functions.
“We will also ensure REIV’s new home is equipped with cutting-edge technology so we can improve our communication and engagement with all our stakeholders,” Caine assured.
The building is set to undergo a transformation with a full-scale interior fitout following settlement in late June 2024.
Selling agent Joseph Walton, director of Gorman Allard Shelton, described the building as a rare opportunity in the Abbotsford area.
“The property at 617 Victoria Street offers a once-in-a-generation opening for the REIV. Sitting within a highly popular precinct of Melbourne’s inner north, this property offers great connectivity to the CBD and inner suburbs,” Walton said.
The Camberwell Junction property had been home to the REIV for over four decades. The organisation sold the 3,808-square-metre site to the high-end residential developer ANGLE late last year, following a competitive expressions of interest campaign that reportedly attracted eight bids from interstate and local buyers. Most of the interest was from developers, though no plans from ANGLE as to how the block is set to be reimagined have yet emerged.
At the time, Caine commented that the body had decided to make a move to a property that was more suited to its updated needs. It was reportedly sold for a land rate reflective of the current market in the area, which sits at roughly $7,000 per square metre.
The price paid for the Abbotsford property has not been revealed.
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